Itochu will sell in China and around Asia through its 30% owned subsidiary Family Mart convenience store network.
Backed by an historically strong yen, Itochu has been active in acquiring new brands and new markets through acquisitions.
Sony has 1, 112 subsidiaries, Hitachi 913 and Itochu, a trading company, almost 700.
Itochu will acquire the global processing operations for canned goods and packaged juices, and the Asian fresh fruits production and sales business.
Itochu has been distributing Dole branch bananas in Japan since the 1960s.
According to a report in the September 13 Nihon Keizai Shimbun, the deal will cost Itochu some USD 1.7 billion (JPY 132 billion).
Clearly the main strategic market region for Itochu is Asia where demand for fresh fruit is expected to rise 7% a year through 2016.
As seen with Itochu and Marubeni above, the strategic target market for much Japanese acquisition is a growing and more prosperous Asia, particularly China.
Many, such as Itochu, whose American subsidiaries hold leading positions in specialist markets such as nails and metal fences, want to do more abroad.
Multimedia will provide a principal source of revenue to Itochu in the 21st century, and we intend to keep directing significant investment into this business.
In such an environment, Itochu has focused on bringing in such consumer goods as textiles and food products and forming strong ties with major retailers.
Itochu, Sumitomo and Marubeni were gigantic in sales five years ago.
Under its energetic 62 year old CEO, Okafuji Masahiro, Itochu continues to earn its long-held reputation as a path breaker and innovator in Japanese business globalization.
Itochu refuses to be satisfied with its performance and constantly strives to achieve more growth by developing new businesses in fields and regions with strong potential.
How Itochu plans to distribute in Asia is revealing of how relationship building and alliances among companies within the region have give players like Itochu formidable capabilities.
"Japan has probably already started falling into an economic lull in the second half of the year, " said Yoshimasa Maruyama from Itochu Economic Research institute in Tokyo.
The multimedia business is expected to grow by leaps and bounds and Itochu has responded by forming a strategic alliance with Time Warner of the U.S. and undertaking forward-looking investments in such areas as CATV, satellite communications and international telecommunications.
Fortunately, the stimulus package passed stateside gave Ener1 new life and the company is producing batteries for everyone from the military for a hybrid Humvee to Japanese conglomerate Itochu as well as Think, in which it took a financial stake.
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